Scottish Baroness to Fail to Conduct ICO

EQUI Capital, founded by Scottish Baroness Michelle Mone, raised only $7M with $80M hardcap
06 September 2018   1409

The investment platform EQUI Capital, founded by Scottish baroness Michelle Mone and businessman Doug Barrowman, failed to attract the desired $ 80 million during the ICO. According to the Coin Insider, even despite the extension of the deadline for the project, the project did not overcome the $ 7 million sum raised at the preselling stage.

In addition, the bounty promoters who promoted ICO in social networks and on other online sites stood against the company's leaderships. However, the founders of EQUI Capital proposed to solve this issue with the supervising bounty program by the company AmaZix.

Lady Mone has been mega busy in Silicon Valley dealing with our new founder so, to be honest she doesn’t have the time to be involved by Bounty people complaining over nothing. If they need to complain they should do this to the agency who hired them in the first place and not EQU.

Baroness' Representative

Meanwhile, in August, the official EQUI Capital blog announced the transformation of the company into an international one and announced the launch of the project under the EQUI Global brand with a new co-founder. As it turned out later, he was co-founder of Apple Steve Wozniak. 

By the idea of Michel Mon, Equi, based of Ethereum was supposed to "iencourage women to invest in tech".

Earlier, the baroness lit up in yet another cryptoproject - the construction of a residential complex in Dubai for $ 325 million, an apartment in which it was planned to sell for bitcoins.

Bitfinex's LEO Token Whitpaper to be Released

Public stage of tokensale may not be conducted if hardcap of $1B won't be reached during closed sale
08 May 2019   276

Bitfinex Cryptocurrency Exchange published the whitepaper LEO token, with which it intends to raise $ 1 billion during the initial exchange offering (IEO).

It is expected that this amount will allow to fill the previously formed deficit of $ 850 million - the site operator will redeem tokens monthly for an amount of 27% of the profits.

Private stage of tokensale ends on May 11. If the intended hardcap won't be reached by this time, Bitfinex may refuse the public part of the campaign.

If fewer than 1 billion USDt tokens are sold by private token sale, the Issuer may thereafter sell remaining tokens at times and in a manner it deems appropriate in its sole discretion, consistent with applicable law. 

LEO Whitepaper

The issuer of the LEO token is Unus Sed Leo Limited, the newly registered IEO-iFinex platform.

The document also says that iFinex, which will be launched in June, will actively participate in the development of the second-tier Lightning Network.

iFinex has joined with a number of other companies and individuals to help develop and finalize the support for digital assets on Lightning Network. Ideally, digital assets developed and introduced by iFinex, including the LEO token, will be among the first digital assets launched on the Lighting Network.

LEO Whitepaper

In addition, Bitfinex plans to create a “a licensed and regulated security tokens exchange”, launch a derivative product with security at USDT and leverage up to 100x, as well as the Dazaar Big Data Marketplace and Betfinex exchange rates.

Another project will be the modular set of tools, libraries and protocols μFinex, based on the principles of open source. It will be used in both exchange and derivative products.

It worth reminding that in late April, the Attorney General’s Office of New York reported receiving a court order against Bitfinex in connection with the alleged loss of the last $ 850 million and the concealment of this fact from market participants.

Representatives of the trading platform said that we are not talking about permanent loss. These funds are frozen in bank accounts of Panamanian processing Crypto Capital Corp., located in four countries.

To ensure liquidity, Bitfinex was forced to use Tether Limited's funds for a loan and, according to the AG’s Office, has already received $ 750 million from the company's reserves. This was considered by the department as a crime.

On May 7, the New York State Supreme Court upheld the injunction against the Bitfinex Bitcoin Exchange, which does not allow Tether Limited to use its reserves for Exchange lending and other investment activities.